Delhi court reserves order on Gautam Thapar’s bail plea in money laundering case till October 30



NEW DELHI: A Delhi court on Saturday reserved its order till October 30 on a bail plea moved by Avantha Group promoter Gautam Thapar who was arrested in connection with a Rs 500-crore money laundering case.

Thapar is currently in judicial custody.

Special Judge Sanjeev Aggarwal reserved his order on Thapar’s bail plea after hearing arguments from both sides.

During the arguments, special public prosecutors Amit Mahajan and N K Matta, appearing for the Enforcement Directorate (ED), opposed the bail application, saying that if released, the accused might hamper the ongoing investigation and flee from justice.

The bail application, filed by Karanjawala & Co on behalf of Thapar, claimed that the accused was not required for the investigation and that no purpose would be served by keeping him in further custody.

The court recently took cognisance of a charge sheet filed in the case against Thapar and 20 others.

The final report alleged that the accused committed criminal breach of trust, cheating, criminal conspiracy and forgery for diversion and misappropriation of public money from 2017 to 2019 and caused a loss to the tune of Rs 466.51 crore to YES Bank.

The ED was probing an alleged transaction between Thapar’s company Avantha Realty and YES Bank co-founder Rana Kapoor and his wife, who are already being investigated under the Prevention of Money Laundering Act (PMLA) by the agency.

The money laundering case was filed by the ED after taking cognisance of an FIR lodged by the Central Bureau of Investigation.

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